Dr. Lawrence Yun is the chief economist for the National Association of Realtors. He recently came out with an article on June 5, 2020 addressing the nation’s recovery in the real estate sector. This article is very optimistic, and he states that the employment is turning around rapidly in the United States. Much of the income that people in the United States are receiving is being saved. Savings now total of 33% of income compared to 8% before the COVID-19 pandemic. Dr. Yun understands that there are many businesses that are still closed, which is actually a source for additional economic recovery from the demand in these services.
Dr. Yun also states that in regards to U.S. real estate, ”housing demand, [and] construction jobs will continue to be added – perhaps more aggressively than in the past.” The economic recovery data for the housing sector is “v-shaped,” which tells Dr. Lawrence Yun that there is much better potential for recovery.
Sellect Realty is dedicated to keeping up with the most up-to-date information on real estate economics. If you have any questions about the housing sector in regards to coronavirus recovery, feel free to give us a call. Our brokerage specializes in the East Cobb and Roswell areas of Metro Atlanta, Georgia.